Bullish and bearish settings
- Thread starter Reecka12
- Start date
Reecka12,
With the colors I have on my MT, Green are Bullish meaning the price 'appricated' and went up while Red are Bearish meaning the price 'depreciated' and went down.
With the colors I have on my MT, Green are Bullish meaning the price 'appricated' and went up while Red are Bearish meaning the price 'depreciated' and went down.
So does that mean if I set bullish at 5, there has to be 5 upward movements within a specified time period in order to initiate a trade? If my time period is one day does it mean that 5 days of upward movements to trade? Or am I completely off base here? Just trying to understand.
You're spot on, however they have to be consecutive, so like yes 5 days in a row of them going green. Thats why you see a lot of people on the forums here mentioning lower time frames, it takes less time to open trades, say you have it on the 5 minute chart it would only take a possible 25 minutes to open the trade versus the 5 days, and thats even if you got 5 consecutive days of green, more likely to get 5 consecutive greens on a chart in a lower timeframe, and faster. I would recommend 5, 15, and 30 min. I think, depending on settings, that the bot takes too many trades at the lower time frames for my personal taste. I stay at the 1 hour typically, get a few trades a day if you understand the price action. However, I think I'm starting to understand you can use lower stops and t/ps at the lower timeframes where the hour+ timeframes you have to take larger positions which if the bot/you are wrong then, its a larger loss. I think it personally depends on how well you're able to monitor the computer/bot throughout the day. If you want to pop in for a while every few hours i would set your charts accordingly. If you would prefer every few days, again set them accordingly, knowing youre going to get less trades. But maybe that's safer if you can't monitor your positions on the regular?
J
Joeboy
Guest
Also for more indepth information on how bullish and bearish signals work, kindly refer to this page:
How to adjust Consecutive Signals based on market trends (scalping, day trading and swing trading)
By integrating this technique into your trading approach and adjusting Consecutive Bullish Signals and Consecutive Bearish Signals, you can align Galileo FX with market trends and enhance its contrarian nature. This method allows you to capture market dynamics effectively. Adjust consecutive...
forum.galileofx.com
J
Joeboy
Guest
You're welcome, if you still have any questions or concerns let everyone know, I'm sure anyone from this community will be glad to help you
Like Joeboy said, we are here to assist you!
